Everyone in Canada will soon be able to afford a home. We just need investors to build more and rates to be cut, right? Anyone that can do basic math has probably been skeptical of that narrative and with good reason—even the people making those statements don’t believe it. Internal messages from the CMHC make very brief but important notes that challenge the exact narrative its leadership has been publicly spinning. More supply won’t bring down home prices, and lower rates won’t make them more affordable. Higher prices will make more supply feasible and lower rates will help boost prices.
